What name is given to the worldwide market crash linked to the 2008 collapse of Lehman Brothers?

The worldwide market crash linked to the 2008 collapse of Lehman Brothers is commonly called the Global financial crisis.

The crisis grew from a housing and credit boom in the United States. Financial institutions held large exposures to mortgage-related securities, including instruments connected to risky subprime loans. When U.S. house prices fell and mortgage defaults rose, the value of those securities became uncertain and lending between banks tightened.

Lehman Brothers filed for bankruptcy on September 15, 2008. The failure intensified panic in global markets, producing sharp declines in equities and widespread government intervention. Governments and central banks supplied emergency loans, guarantees, capital injections, and interest-rate cuts.

The crisis led to the Great Recession, but those terms are not identical. The Global financial crisis describes the international financial and market breakdown; the Great Recession describes the broad economic downturn that followed it.